1. Shawn agreed to a $ 140,000 fixed-rate loan from First National Bank today and promised to repay the loan with 36 equal monthly payments at an APR of 7 %. How large are her monthly payments? Use a financial calculator to determine your answer. Make sure you set up your calculator for the appropriate number of payments per year accordingly.
A) $15,821.78
B) $3,663.87
C) $4322.79
D) $932.45
2. Donald agreed to a $100,000 fixed-rate loan from First National Bank today and promised to repay the loan with 36 equal monthly payments at an APR of 6.50%. What is the EAR of his loan? (Hint: If you use the HP financial calculator, make sure you're set up correctly, and have N set accordingly before calculating EAR
A) 6.90%
B) 7.10%
C) 6.70%
D) 6.50%
3. Firms that pay dividends typically pay ________ time(s) per year
A) Two
B) One
C) Four
D) Twelve
4. A common practice today is to have shares of stock in the ________ , using the name of the broker as owner rather than you
A) Bearer Name
B) Street Name
C) Broker name
D) Beneficiary name